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FOX News
Jun 20, 2013 1:00pm PDT
of an ingracious way to do it because ben bernanke got him elected by pumping all the money into the economy, and being the only thing promoting economic growth because his fiscal policies he even admits fail. that's pretty bad. i was shocked at bernanke's statements yesterday. they were clear and concise and said in clear terms that we're going to end this, when we get any sort of indication it's probably going to be over. we may even end et al. together next year if the economy starts to improve. he knows the markets are so volatile, on tender hooks about ending quantitative easing, and you have to thicket was payback. >> neil: normally, they stay before you fire a person, make sure you have their security pass. and check they don't have weapons. but in this case, the powerful weapon. i'm not saying -- there could be the temptation to say i'm going do it sooner than the market thinks. >> i don't think what the president said was an accident. i don't think he says anything accidentally. and you can read a lot into that. and there has been a ton of chatter since that interview, talking abou
Jun 21, 2013 7:00am EDT
wall street journal," -- -- he went on to say, "the economy is recovering too slowly and should not be regarded as the new normal." >> we need a new approach. an approach that removes obstacles of growth, prosperity -- of growth and prosperity. unleash the nation of builders. to become a nation of builders and i think we have to stop picking winners and losers and start focusing on expanding opportunity for everyone. we started out by giving our kids a good chance at an education. to hirend opportunity axa's education so students are ready for tomorrow's job market. to become a nation of builders again, we need to fix our tax code. if we clear out all of these loopholes and make the tax code fair it is going to make it easier to understand, we will be creating more incentives to bring jobs home, and keep our resources here in america. a host: john boehner before the national association of manufacturers. this headline from "the -- this editorial from "the wall street journal" -- joseph on our twitter page has this comment -- logan is on the phone from las vegas on our independen
Jun 21, 2013 6:00am EDT
what he said? valuations are attractive still. businesses are doing well. the economy is strengthening. get this. he says even with $20 billion, he opportunity have enough money to take advantage of all the opportunities here. >> 20. it's not all his. >> he says he's not looking at this point like, look, maybe the rate of the market has slowed down. we're not talking about three year doubles at this point. he says for his funds he's looking more five or six years for doubling. maybe nine or ten for the market. still talking about a very strong market and a place he sees great opportunity. >> these are times you try to keep your cool. >> got to have some powder. got to have dry powder. >> i wish we had all the guys looking for -- if they were to come on and say no, no, no, i'd feel better. they're never able to pull the trigger. want to go overseas? >> i think we should. for a moment. >> take us there. >> i hear this whole thing in china is kind of just not just ben bernanke creating some problems. let's talk about trading in asia and europe today. ross westgate standing by in london. f
Jun 14, 2013 7:00pm PDT
fiscal policies. opinions are divided on how the growth plan can lift the economy. nhk world's chie tanaka has more. i >> reporter: cabinet ministers gathered on friday to give final approval on the new economic growth plan. its purpose is to make japanese businesses more competitive and to bolster the country's economy. the plan includes tripling the value of infrastructure exports by 2020 to over $300 billion. it also calls for establishing special economic zones to provide tax incentives and permitting sales of medicine online. abe also wants to promote the export of medical services and technologies to a market worth over $50 billion by 2030. some private firms welcome the new growth plan. japan's the leading manufacturer of medical image equipment is one of them. >> translator: we are looking forward to promoting our high quality medical products with government support. >> reporter: one economist says a growth plan with specific goals bodes well for the economy. >> setting a new target over prime minister's abe's growth strategy is very easy to understand, what trend of the po
Jun 20, 2013 9:00am EDT
is not only allowing inflation, but the fact that it won't come down. and now the u.s. economy has to take into account that and the move of rates and the 1.5% move in rates is a hard pill to follow. >> and scott n the last three or maybe four, the feds have come in, and they have said, i am short the 10-year and take a boatload and every year they are wrong, and perhaps now, but to this point, we are waiting for an appreciable move in rates for year and years and the fact that the economy may not stand on its own legs is curious to me. i am curious what you are hearing out there, as well, scott, in terms of the pain people are taking on the fixed income side, and those who are not short credit and obviously watching the equities sell off. >> the market, whether it is treasuries or equities, the market was probably hoping and probably against the better judgment probably that bernanke yesterday was going to sort of walk it back, and walk back the notion that they were going to mention taper org that -- tapering or going to do it any time soon and we know that the people you are talking abo
Jun 18, 2013 1:00pm EDT
of different economies, but housing is key to the u.s. economic recovery along with jobs. how does it look to you? >> i come home from my travels i see it in my own street, that a developer bought the property opposite of us, completely overhauling the original house and building a new one right next to it, kind of noisy. sends me back in my travels again. the infliction point happened, i can tell you when it happened, whenity remortgaged and fixed, and from that moment on you've seen the tightening beginning, and this is going to be a very interesting challenge for the housing recovery as we get further indications from the fed tomorrow that there's tightening coming. that's already begun to affect mortgage rates, and if there's one thing that could cool things down it's going to be a sense that the party is over in terms of quantitative easing. >> diana, weigh in on that, you've made the very points that there may be a cooling of course, but as rates rise it may get people off the couch and into contracts. >> yeah. that's a very short-term phenomenon, and i'd be interested to hear from n
Jun 17, 2013 8:00pm EDT
of america, this remains a vibrant place to live with a balanced economy. the american people must have a voice about what those rules will be. and congress cannot skirt responsibility to legislate. again, i would like to close here by thanking those who led this effort, mr. collins in particular, for leading the floor conversation. he has shown great leadership, working very hard. you came here as did other members of the freshman class to make a difference by supporting the reins act and i think you will advance that cause. mr. collins: it is easy to follow in the stoot steps. and we will work to continue that fight. i thank you for being here tonight. it is now with great pleasure, another freshman who has come from north of me in north compassion for his constituents. mr. holding: i thank the gentleman from georgia for the opportunity to discuss this administration's excessive regulations. we know the harmful effect that overregulations had on the economy and since taking office, president obama and his administration have continuously burdened the american people with an exceptiona
FOX News
Jun 19, 2013 3:00pm PDT
to tap the brakes on the feds' bond buying program designed to lower interest rates and spur the economy. fox business network senior washington correspondent peter barns has an update. >> good evening. the fed says the central bank could be getting ready to wind down the easy money policies it has been using for the last five years to help the economy recover from the great recession, the first to slow and then to go, the controversial bond buying program, known as quantitative easing, which helped keep interest rates low. so far, the fed purchased $2.5 trillion in bonds to help flood the financial system with cash, basically printing new money. purchases help keep rates low for auto loans, mortgages and business loans. the fed chairman had cars on his mind when he said his team could start reducing purchases later this year, if the economy keeps growing and unemployment keeps dropping. >> if incoming data support that the economy can sustain a reasonable cruising speed, we will ease the pressure on the accelerator by gradually reducing pace of purchases. however, any need to consider a
Jun 17, 2013 6:00am EDT
morning to you. leaders of the world's most powerful economies are gathering in northern ireland for a two-day summit. british prime minister david cameron is the host, and he's pushing for countries to share more financial information. leaders there also expected to discuss differences on some of the big issues. syria's civil war, free trade between europe and north america and of course global tax evasion. we'll have a live report from steve sedgwick on the ground in the next hour. >>> unions in turkey, they're on a owuone-day strike over the eviction of protesters from a park in istanbul. police and protesters clashed from sporadically overnight following a weekend of scuffles in the city. nbc's richard engel will join us with the latest in the next hour. >>> also in corporate news this morning, a large activist investor in smithfield foods is pressuring the company to explore a break-up rather than go ahead with that planned $4.7 billion takeover by a chinese meat producer. i don't know if this is going to make joe happy or not, but "the wall street journal" reporting that starboard va
Jun 21, 2013 4:00am EDT
. and the double hit of the weak chinese economy and also the fed's tapering continue to weigh on this sector. back to you. >> thanks for that. let's recap what happened in the u.s. as well. selling off for a second day. dow, s&p 500 suffering their worst day of the year. dow down 254 points. highest one day percentage drop since last november. all 30 components down with 29 of the 30 dropping more than 1%. s&p had its worst one day percentage drop since november as well. november 2011, i should say. all ten s&p sectors were down more than 2%. 96% of the stocks listed on the benchmark index ended in the red. the vix, the markets fair gauged up more than 23% to its highest close since december. joining us for more, charles steeple, head of market strategy at lloyd's bank with us for the best part of the first hour today. good to see you. it's been described as sort of a big unwind of leverage. the thing that's striking about this, of course, actually what was the hedge yesterday that paid off? maybe if you were long in the vix. otherwise you were pretty much whammied. >> yeah. i mean, it's -- heads
Jun 18, 2013 6:30pm PDT
be achieved through diplomacy. >> talk on the global economy were less contentious. the g8 leaders say it is in better shape than last year but still needs growth. there is also agreement on working to put attacks havens out of business. they pledged more transparency to curtail tax evasion and avoidance worldwide. >> taxation is one of the big issues where the g-8 says they made progress today. >> tax evasion and avoidance were under discussion. invasion is illegal, avoidance is not, but sometimes the line between between them can be hard to draw. >> they are under fire for breaking the rules or pushing them to the limits. they want to make practices harder and tax havens from the caribbean to the heart of europe. click the picturesque villages technically in austria, but the only road in his from germany. there have never been border controls here making it easy to hide german money in the neighboring country with lower tax rates. >> there are about 4 billion euro in three banks here. more than 99% of the money comes from germany, most of it probably undeclared. clicks tax evasion ha
Jun 17, 2013 5:30pm PDT
. rohani called for moderation and for reviving iran's economy. in recent years, international sanctions aimed at rean's nuclear program helped fuel rising inflation and high unemployment. rohani presided over nuclear talks with the west between 2003 and 2005. but today the president elect was not support ceasing iranian enrichment. >> we will make nuclear talks more active. this is a problem. solution to the nuclear problem is just talks. neither threats nor sanctions will work. >> ifill: he left open the door to improving relations with the united states. >> the problem complicated and difficult. there's an old wound that should be dealt with with prudence. of course we are not seeking tension or increase can the tension. common sense says our two countries should think about the future more than the past. >> u.s. officials cautiously welcomed rohani's victory but state department spokeswoman said the obama administration wants to see more. >> we look forward to him and are hopeful that he will fulfill the campaign promises he made to the iranian people such as expanding personal
Jun 19, 2013 10:00am EDT
the economy has not recovered from the collapse that wall street caused in housing and other areas. we had recreational vehicles industries gone. we had some high tech that's moved on. we had a lot of construction, home building, lumber, wood products pretty much decimated. the rural areas i have in my rural counties, unemployment over 20%. people are struggling to make ends meet, and we're going to cut their benefits. they want to work. some of them are working, and we even have a higher minimum wage than some states, but it still won't get you through the end of the month for your family. now, this is just outrageous. there are ways to cut this bill. we're going to stop paying finally at last, we are going to stop people not to grow things. we are going to have a new program of crop insurance and some estimates are this program which goes to anybody with an unlimited income, if you're a corporate farm and has $2 million, government will pay 80% for your crop insurance, 80% subsidies. why is that? we could cut this and -- if you earn a quarter of a million dollars a year, go buy your own
Jun 18, 2013 4:00am EDT
on the economy but signaled this in no way means rates will go up. that led to a bit of a swoon in stocks during the session yesterday. the dow gave up more than 100 points. robin harding, who wrote the article, then took to twitter to tell everyone to chill out. he later defended his piece on cnbc's "fast money." >> the fed has a one-week blackout during which it doesn't say anything to anybody. so, people need to react to the content of the story rather than the existence of the story. and what i've seen happening today, and i think we saw it happening last week, too, is the market was reacting as if there's some secret bat signal coded here. >> asked if the article was timed for the greatest market impact, harding says he has nothing to do with that, that "the ft" sends out pieces when they write them. i mentioned mr. draghi as well. he says the ecb is looking at negative to positive rates with an open mind and with all intended consequences, rates becoming more effective. again, another measure we looked at on the considered possibility of having a break on deposit facilities, speaking in je
Jun 19, 2013 6:00am EDT
about the underlying economy. >> it's the economico outlook. >> you don't think he'll use the word? >> i don't think he'll use the letter. >> people will ask questions. >> but as long as -- as long as it doesn't start with a t. if there is a t in the world somewhere, he may use it. >> we could have a drinking game. first question has to be about tapering. will use the word taper. >> either tape ever or your ter. >> i was at a party with a drinking game, but it was with lemonade. makes no sense. they're practicing for the day when -- legmonade, you'll just get sick. >> that's okay. learn a lesson. >> i know. >> let's take a look at europe. again, futures are indicated higher and that may be because the expectation is that the fed will in fact slightly lower their economic outlook. if that he another case, you would expect they would not be pulling qe anytime soon. but right now the market is barely bunching in europe. in asia, you can see the nikkei was up about 1.8%. so volatility continues there. hang seng down by just over 1%. oil prices right now are indicated up about 50 cents. wti i
Jun 21, 2013 3:00pm EDT
pulls the jumper cables off the drained battery that's been the economy, a healthy financial sector could be good, needed, and essential for a sustainable economic recovery. >> you mentioned oracle, nick. a lot of people were looking at oracle and saying this is evidence that global growth is slow. so what did you see in the oracle numbers? >> when we look at the numbers for all of the companies, things that are still tied into the emerging markets -- >> i see. >> -- the emerging economies are still struggling the most. when we collect all of the economic data, it's saying come home to the u.s. and so, some of the defensive sectors, the financials as well, we still like best some of the trends. not utilities, but telecom we like. when it comes to certain technology sectors and materials, energy, industrials, you know, these emerging economies, there's some scary things going on, particularly with the short-end rates in china. >> and the outflows prove it. >> yeah, rick santelli, how much higher on the 10-year yield, do you think in. >> i wish i could tell you. if this was a normal m
Jun 14, 2013 5:30pm PDT
wages. as the economy slowly recovers, many of the new jobs are concentrated in low-wage areas like fast food restaurants. nbc news reporting on poverty in america, supported by the ford foundation and in tonight's "in plain sight" report, you may be surprised to learn who some of these folks are and what it takes for them to feed their families. we get our report from nbc's kevin tibbles in chicago. ♪ we serve it up with a smile >> reporter: for many, this is the face of the fast food industry, happy young kids flipping burgers after school. but these days that person taking your order for minimum wage is much more likely to be older. >> we can't afford to live on what we make. >> reporter: people like 56-year-old interior designer amy crawford, who now works behind the counter for $8.75 an hour. >> i would have described myself as very comfortably middle class. >> reporter: and now? >> and now i'm getting by. >> reporter: crawford says she has been seeking a job in her field over a year, dipping into retirement savings to pay the rent, and relying on food stamps. >> these folks use f
Jun 17, 2013 5:30pm PDT
, they usually focus on the global economy. but this year's meeting comes at a precarious time in the syrian civil war. seven g-8 countries are on one side. country number 8, russia on the other. >> arriving on a golf retreat to northern ireland, president obama had to leave his clubs stateside and immediately get down to business. tops on his agenda, finding common ground with russia on the issue of syria. but while today was no cold war confrontation, both leaders admitted they disagreed on how to deal with syria. but putin went out of his way to endorse the idea of a negotiated settlement. >> we do have differing perspectives on the problem, but we share an interest in reducing the violence, securing chemical weapons. >> all of us have the intention to stop the violence in syria, to stop the growth of victims, and to solve the situation peacefully, including by bringing the parties to the negotiations table in geneva. >> reporter: putin's words today were decidedly more measured than yesterday when he met with british prime minister david cameron, referring to a graphic video of one syria
Jun 14, 2013 6:30pm PDT
% under valued and as the economy stabilized, we think investors will return to those names. >> okay. >> now you can do stock selection there but given the risk, we think bundling them into a single eft is the way to go. >> let's start with discover financial, dff on the big bored. why do you like this one? >> well, we like this one and largely because it's got a hidden gem. in audition to the well-known credit card component of their business, they are also one of the three players in the payment processing business. so you've got the bank networks, you've got american express and you've got discover and discover is taking market share from the banks and american express faster than anybody else. they signed an agreement with paypal that gives them a tremendous opportunity for growth over the next several years and in audition to that they are a balance sheet lengther and as those credit card balances grow, so do their earnings. the old hp, they messed up a bit, maybe over paid on the acquisition with the most recent earnings, it sounds like they turned the corner there. >> any disc
Jun 16, 2013 2:00pm PDT
to be there on this path. >> issues at the forefront of people's minds are economy and unemployment. iran has a young population that is highly educated, but many are struggling to find jobs. >> hassan rouhani is not new to politics and is an outspoken critic of ahmadinejad. his election in 2005 he resigned from his post. >> i expect him to at least record -- restore the economic situation to what it was eight years ago. i live in my country and i expect to live in my country comfortably. >> i wanted economy to be fixed. that is one of the most important problems. i used to be a shopkeeper, but i quit. is note hassan rouhani the -- >> if we want to choose a way to develop a country and ensure the welfare of the people and establish peace and stability, there is no better way than enforcing the law and remaining committed to the law. >> hassan rouhani is a longtime friend of the man who holds the real power in iran, the supreme leader. while he says he wants to reach out by getting away from extremism in foreign-policy, he has almost -- also promised there will be no surrender to western demands. a ra
Jun 15, 2013 7:00am EDT
economic progress. it tripled the size of its economy, crippled the standard of living of ordinary people, in spite of this progress, we see this demonstration. why? because people don't want just bread-and-butter, they want freedom. they want human rights, civic rights, democracy, rule of law. they want to take part in the decisionmaking, whether it is the future of the party in istanbul or the future of their country. for mr. erdogan, in my view, a wake-up call. therapy can go on the way to work, more democracy, on the way to europe, or turkey can slip into the politics situation that is developing in the middle east. therapy needs a new constitution not because of the e.u. but because of the democracy and development of turkish society and turkish economy. in this process of creating a new constitution not only the ruling party but the opposition should be included. the civil society, the journalists, the lawyers, everybody who is willing to take part and in this process, needs our help because if we let this not only for us, very important country to slipped down this slippery slope,
Jun 17, 2013 5:00pm EDT
in this that america is in a global battle for capital and labor. if we're going to grow the economy in the united states at the rates he would talk about historical through our lifetime then we have got to have more labor. not only high skilled labor like science and technology and engineering and math but it is critical to increase the of h1-b visa and also start to do a better job to raise american kids to get the master's and ph.d. engineering and physics but in the short term and in the midterm lot of the labor costs to come from other countries and we are so blessed that our university system is a magnet for the best in the world when it kid gets a ph.d. in engineering from mississippi state we should staple a green card to his diploma because if not he will go home to mom buy and hire 800 people were if we let him he would much rather stay here and it is almost universally accepted that we have the other essentials labor that is not a phd. california that biggest agricultural state more than half of the farm is here illegally and only 4% are here on the special agricultural be said because
FOX News
Jun 15, 2013 12:00pm PDT
we need to get the economy going and small businesses will do better. >> heather: and the answer depends on who you talk to and what stats they reference. you talk to bankers, they will show data released by independent businesses and that showed the null of employers difficulties securing a loan that it dropped six percent in may. then folks from the sba outstanding loans have declined 17% since 2008. so does kioyd down to the numbers? >> it does. it depends on what types of businesses you are in, what growth usual in, what part of united states you are in. it's not a simple answer. again, if we get the economy going, maybe a lot of businesses won't take out loans. small businesses, everybody should small business owner today. it is tough. and i was listening to leland, that is sort of what it is like to be a small business owner today. you have craziness going on, rising costs and rising taxes. it's very tough to be a small business owner. get your house in order to get a loan, it's a difficult thing. big companies seem to have an easier time at it because they can float notes
FOX News
Jun 18, 2013 4:00pm PDT
that they are not getting what they deserve from the government of the world's sixth largest economy. shepard? >> shepard: steve, these nationwide protests are reportedly some of the biggest demonstrations since the end of brazil's dictatorship back in '85. the country's military regime lasted for more than two decades back then. during that time, violent clashes often broke out between protesters and police. really not sense. authorities in turkey have banned large gatherings all together after weeks of violent antigovernment protests in a key city. so it's come to this. one man trying a peaceful solo protest and there he is. the guy on the right in the white shirt, stood alone for many hours last night. at istanbul's taksim square. stood there and stared. stared aportrait founded turkey as a secular state 90 years ago. many claim turkey's current leaders are forcing islamic agenda on them as word of this standing guy got out. several others stood just like him in different parts of the country. turkish officials say they will take no action as long as these silent protests cause nobody any harm. here a
Jun 14, 2013 10:00pm PDT
the detention facility at guantanamo bay, cuba. the latest data on the u.s. economy left something to be desired today. factory output barely rose in may, and consumer sentiment fell in june. wall street reacted with a friday sell-off. the dow jones industrial average lost nearly 106 points to close at 15,70. the nasdaq fell nearly 22 points to close at 3,423. for the week, both the dow and the nasdaq lost more than 1%. those are some of the day's major stories. now, back to judy. >> woodruff: today the city of detroit, and its creditors, were presented with a series of painful options. retired city workers were warned of significant cuts in pensions and health insurance and creditors were told the city won't be able to pay them back. the day started with an announcement that the government already defaulted on some debt. it got worse from there. ray suarez has the story. >> make the banks pay. >> suarez: a handful of protesters picketed outside the westin hotel this morning, while inside, detroit's emergency manager kevyn orr laid out a last-ditch plan to 150 creditors to accept pennies on the
Jun 15, 2013 2:30pm PDT
for the new parliament even though the region is key to the economy. this region has been marna leitch -- marginalize for 50 years. it was excluded for all developments. it is the richest region in the country because of the raw materials. a former postal worker has not been able to achieve much for the region he represents. many hope against hope that politicians can do something for them. unpaid compensation, missing approval, denied loans, the list of complaints is in less. almost all of them are dissatisfied. we accompany him for a portion of his journey. not far from here are the mountains where security forces recently found an islamic terrorist camp. the extremists are just a passing phenomenon. radicalization is normal after a resolution. it will soon subside. he says he thinks the constitutional assembly is working well and that any claims to the contrary are wrong. he says the assembly members are working hard. he adds the constitution is almost finished. things are tense and tunis as well. political business continues as usual. here in the parliamentary cafeteria, he is a qu
Jun 16, 2013 11:00pm EDT
, creating jobs is our top priority. this could generate a lot of .evenue as our economy continues to recover, every job is important. the intelligence community is on .he offensive officials are giving up some previously unknown details about the high-profile terror arrest. we have more on what they are calling excessive as part of the nation. >> one he was arrested, federal authorities say he was taking orders from al qaeda. now u.s. officials are revealing that was just one of dozens of terror plot foiled by the once secret data gathering programs. another do not do that, attack is likely. technologycurrent could have crushed al qaeda. >> we might have enabled to prevent 9/11. >> they want to step up the search for the former government contractor who has claimed credit for the leaks. they are investigating claims that nation was a target. >> they need to look an american jury in the eye and explain why he is going to disclose methods that are going to put american lives at danger. >> intelligence officials say only 300 were followed up on last year. righthave to find the balance between p
FOX News
Jun 16, 2013 1:00pm PDT
that the u.s. economy is on the road to recovery. baby boomers are fueling rv sales. the motor home business hit a detour during the last ut now r vehicle sales apparently are up over the years. so what does this mean for the larger economy? let's bring back brenda buttner, senior business correspondent and anchor of "bulls and bears." thanks for coming back. >> absolutely. >> what is driving these numbers? they're up over the past year. >> they're up tremendously. right now nine million american households own rvs, that's the highest level ever. it's a $14 billion market in the u.s. but essentially you need a lot of confidence to buy a gas guzzling home on wheels. so what this is basically saying is that consumers are confident. essentially rv sales, they kind of anticipate a recession, but they also can foreshadow a recovery. so these sales show that perhaps we're on the road to recovery. >> because when sales bottomed out, it was due to a number of factors. like gas prices -- >> yeah. they didn't just bottom out. they went over a cliff from 2006 to 2009 motor homes, rv sales, fell 60%. th
Jun 17, 2013 6:30pm EDT
gather, they focus on the global economy. this comes a precarious time in the syrian civil war. seven g8 countries on one side, and the other on the other, russia. president obama had to leave his clubs stateside and immediately get down to business. talks on agenda? finding common ground with russia on syria. both leaders admitted they disagree how to deal with syria. but putin went out of his way to talk about a negotiated settlement. >> we have different perspectives, but we want to reduce violence, securing chemical weapons. >> translator: we want to stop the violence in syria, and to solve the situation peacefully, including by bringing to the negotiation table in geneva. >> reporter: putin's words today, decidedly more measured than yesterday, when he met with prime minister david cameron. >> translator: we shouldn't back those who kill their enemies and eat their organs. >> reporter: president obama comes to the senate, first trip to europe since winning re-election, to a more muted reception in the past. he was even given a nobel peace prize, now he's under fire for some of his p
Jun 17, 2013 6:00am EDT
will depend on how the economy is doing. he will speak at a press conference wednesday. most are hoping he will provide clues on when the central bank will start to cut back bond buying. the fed buys $85 billion in bonds every month as part of a campaign to keep interest rates extremely low. >>> now checking how wall street is doing the dow plummeted about 106 points friday. it starts this morning above 15,000 and the nasdaq dropped by almost 22 points. >>> >>> protests continue in turkey into the early morning hours. >>> and colorado residents begin returning home to survey damage rest by the black >>> good morning, i'm in for howard today about we are going to look at a warm and muggy one to start off the work week. 81 degrees at 11:00 a.m. the chance for showers and thunderstorms is really most prevalent around noon. 1:00 p.m. it will be 83 degrees. changes as we head toward the end of the work week. right now another look at traffic. >> on the northbound side of i- 95 a live look from our sky 9, which is absolutely jammed from here at the fairfax county parkway, right up the line to sp
Jun 17, 2013 4:00am EDT
the economy offset these gains in some of the financial sectors. shrugging off weakness in the mainland, property place outperformed hong kong helping the hang seng gain 1.2% today. the sector rebounded for the second session after very sharp selloffs recently. so we may be seeing some bargain hunting here. and elsewhere in australia, banking shares helped at the sx 200 reversed earlier losses ending higher by 0.7%. but under pressure, down 0.3%. and some of the southeast asian markets also trading in the green at the moment. back to you, ross. >> all right, catch you later. joining me in the studio, co-ceo of wells fargo financial services. american stocks down three out of the last four, this after good gains this year. is sentiment going to be shifting around now over the next few months as we question the fed and japan? >> undoubtedly we'll continue to see a lot of volatility. just look at this morning. we have the nikkei up 2.75%. today we have the futures up in the u.s. about 1% and within europe, about 0.75%. and i think we'll continue to see that. the question about japan is, do
Jun 14, 2013 11:00pm EDT
'll find the president more engaged. i'll stop there. essentially the basic need to get the economy going we haven't talked about that yet. the tax reform is going to help the american economy, health care jobs. this competitive world of ours, everything we can, legitimately and reasonably to help american people, help american small business, how multinational corporations to compete better and have less red tape and be less hidebound said they can focus more on jobs. it will help spur the economy. >> i would say the tax code was broken in 1986 and is broken now. i reference this hearing. the three witnesses said the tax code is broken and i would agree on everything maxed site. the other thing habitat is the world has changed since 86. the ability to invest around the world with the click of a mouse is so much easier. we have to look with other countries have done as well and have modernized tax systems. we have an international business side and the other thing is somewhat similar is you have to be very persistent. that reform would not have happened without continual persistent enough
Jun 14, 2013 10:30pm EDT
in the eurozone and the economy. they'll discuss the trade negotiations associated with the potential transalantic trade investment partnership. they'll discuss the situation in afghanistan where germany remains a stalwart ally and continues to contribute to the mission there as well as, again, how nato can provide support beyond 2014. i don't anticipate they'll discuss syria, iran, and the middle east peace as issues we regularly consult closely with the german zone. following the bilateral meeting, a press conference. then a private lunch together at the chancellory. following that, the president will give remarks at the brandenburg gate. it comes on the 50th anniversary of president kennedy's speech at the height of the cold war when west berlin was under considerable siege. given the progress made in germany and the fall of the berlin wall, it's a true symbol of the partnership that we forged together. i expect the president would hit on broad themes in that speech associated with the shared history of the transalantic alliance, how far we've come together in germany and the other allies but t
Jun 19, 2013 11:00am PDT
, this was a hot topic on "morning joe" this morning, the economy so much of this was supposed to be especially the g-8 focused on that and we saw transition with the developments regarding nsa. when we look back at when the president visited germany before he was elected and even just the climate of the austerity measures in europe versus the actions that he promoted here in the united states and the face of both of these economies now, lends itself to an interesting discussion over what should be done to repair economies. >> reporter: you know, i look at this -- i want to look at this through the prism of obama/merkel relationship. they have become close. it was the financial crisis that brought them together. each was trying to pull the other to their direction. merkel was trying to pull the united states a little more austerity. president obama was trying to pull germany into saying you have to bailout all of europe. don't put such harsh crit era on what you're trying to do at the time during the great bailout. things like that. and they did sort of end up meeting in the middle and they're
Jun 21, 2013 6:30pm PDT
been holding back from pumping money into the economy lately, worried about the risk of accumulating bad bets. onto markets, and european stock exchanges dropped for the fourth day in a row on friday, locking in the biggest weekly decline in 13 months. our correspondent sent us this trading -- the summary of the trading action on the frankfurt stock exchange. >> ee you is coming forth with the bank union. this was the only good news for traders. it is a very important project, they said, but besides these plans, the trading day was very weak. german stocks made only a brief move toward recovery after yesterday's selloff. the fed's announcement to reduce stimulus disappointed traders, and in addition, they also worried about the situation in the chinese banking sector. the week ended all in all with heavy losses. >> we stay in frankfurt for a closer look at the friday numbers. the dax was off i -- look at that -- 1.76%. also lower across the atlantic on the dow, which is trading up at this hour. the euro trading at a value of $ 1.31 51. briefly in sports, formula one racing team merce
Jun 15, 2013 8:30am PDT
something like that happen but here? emma but the turkish economy has been booming under the prime minister, and that is also why he still has many supporters. >> i work here. i think we improved the district. >> but these authoritarian tactics will turn the entire district into a powder keg. >> but look at what the protesters are doing -- there have been fires everywhere. they broke the windows of my friend's shot over there. >> traces of this violence are everywhere around the square, but most of the demonstrators want peaceful protests. right now, they are preparing for another onslaught of water hoses and tear gas on the part of the police. more than 1000 people have been injured, and two have died in protests across the country. that has only strengthened the resolve of the activists. >> we want a government that is environmentally responsible and that follows the law, if government that helps overcome in justice and allows us more freedom and greater rights. >> a sit-in to save the trees has become a struggle for greater democracy in turkey. as darkness falls, another restless night b
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